Guideline Value for G.V.NAGAR

G.V.Nagar guideline value

The current guideline value of G.V.Nagar in Vengaivasal village is Rs 2,400 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - I.

How the guideline value of G.V.Nagar has changed

The guideline value for G.V.Nagar has seen several revisions over the years. In the 2017 revision, the value was set at Rs 1,474 per sq.ft. This increased to Rs 2,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value further increase to Rs 2,400 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 63%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a guideline value for 2024, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, indicating that G.V.Nagar's 2024 guideline value is below this median.

• Indira Nagar: Rs 2,700 per sq.ft (2024)
• Indira Nagar Extentsion: Rs 3,700 per sq.ft (2024)
• Gothandaraman Nagar: Rs 4,000 per sq.ft (2024)
• Gopalapuram: Rs 3,350 per sq.ft (2024)
• Ishwaryam Garden: Rs 2,700 per sq.ft (2024)
• Glory Nagar: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in G.V.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, making a total of Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers G.V.Nagar?

The Sub Registrar Office that covers G.V.Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vengaivasal

The guideline value plays a crucial role during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately and legally. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of G.V.Nagar?

The current guideline value of G.V.Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value of G.V.Nagar changed over the years?

The guideline value has increased from Rs 1,474 per sq.ft in 2017 to Rs 2,400 per sq.ft in 2024, marking an overall increase of 63% over this period.

What is the median guideline value in Vengaivasal?

The median guideline value for streets in Vengaivasal is Rs 2,700 per sq.ft for the year 2024.

What are the stamp duty and registration fees for property in G.V.Nagar?

For a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 and the registration fee would be Rs 48,000, totaling Rs 2,16,000.

Where is the Sub Registrar Office for G.V.Nagar located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.